BMO Capital Markets analyst Keith Bachman raised his Microsoft share target by $85 ahead of the company’s Oct. 28 earnings, putting his estimate at $600 as investors await Azure growth figures.
Bachman made the largest increase among three analyst actions from Oct. 19 to Oct. 21. He moved his target up from $515 on Oct. 20 and kept an Outperform rating. The targets are estimates for Microsoft shares, rather than forecasts issued by the company.
Bernstein analyst Mark Moerdler increased his target by $2 to $662 on Oct. 19 and retained an Outperform rating. Guggenheim analyst John DiFucci left his $586 target in place when he reiterated a Buy rating on Oct. 21. Bernstein’s estimate was the highest of the three.
Microsoft projects Azure revenue growth of 44% to 45% in constant currency for its fiscal 2027 first quarter under an adjusted reporting measure. The company described that outlook as a mechanical adjustment to the approximately 45% forecast it gave in July using its earlier measure.
An earlier EconoTimes report on Microsoft’s Azure outlook noted that BNP Paribas analyst Stefan Slowinski projected 46% Azure growth in the first quarter and 49% in the second. TD Cowen analyst Derrick Wood expected Azure to exceed expectations by a wider margin than usual.
Microsoft plans to issue its fiscal first-quarter results after U.S. markets close Oct. 28. Its earnings webcast is set for 5:30 p.m. ET (21:30 UTC).
